U.S. Senator Chuck Grassley spoke with KCII News about how he is spearheading legislation for lower prescription drug pricing this year, “The one on prescription drugs it deals more indirectly with prescription drug pricing, but it’s an effort to bring down prescription drug prices, and that is the Pharmaceutical Benefit Managers, the middle people between the manufacturers and the consumer. And nobody knows what PBMs do because its so secret in their negotiations. We need to bring transparency to it so we know how much money they are making off the system.” The PBM Oversight Act of 2023 generally prohibits pharmacy benefit managers (PBMs) from engaging in certain practices when managing the prescription drug benefits under a health insurance plan, including charging the plan a different amount than the PBM reimburses the pharmacy.